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Corporate - February 13, 2023

FBCCI urges businesses to keep market stable

Staff Correspondent: The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) yesterday urged the retailers, wholesale traders, and mill owners to keep the prices of commodities normal and ensure smooth supply of essentials during the upcoming holy month of Ramadan.
The FBCCI made this call during a discussion meeting on the stock, import, supply, and price scenario of daily essential commodities held at the FBCCI office yesterday.
While presiding over the meeting, FBCCI President Md. Jashim Uddin said that traders need to be aware that no one could destabilize the market by creating artificial crises.
He urged the wholesale market, and retailers to issue invoices in order to keep the price of products stable.
Jashim said, “Businesses should be done in a systematic way to keep the prices stable and normal. The mistrust issue of the common people towards the traders should be solved,” he added.
He said the country’s apex trade body has already formed a 46-member market monitoring committee to keep the market stable during Ramadan.
The members of the committee are monitoring the market. They are collecting and reviewing the market prices of essential commodities, supply situation, production, and international market prices and also paying spot visits to the market.
The FBCCI President thanked the farmers for producing rice, wheat, and other products and keeping the supply chain normal. He also thanked the expatriates who are sending remittances from different countries to Bangladesh.
FBCCI senior vice president Mostofa Azad Chowdhury Babu, in his welcome speech, urged the businessmen to get out of the culture of increasing the prices of goods during the festival.
While speaking as the special guest, the Director General of the Directorate of National Consumer Rights Protection A.H.M. Shafiquzzaman said, “When there is an unstable situation in the market, the traders are generalized as dishonest, which is harmful to the country’s economy. We need to get out of this tag.”
He said that it is necessary to have an invoice of sale to stop the alleged anomalies in price of the daily necessities.
During the meeting, the mill owners, wholesalers, retailers, and other market associations have assured that there will be no shortage of edible oil, sugar, pulses, dates, and other products in the market during Ramadan.
FBCCI vice presidents Md. Amin Helaly, Md. Habib Ullah Dawn, Chairman of the Trading Corporation of Bangladesh (TCB) Brigadier General Md. Ariful Hassan, FBCCI directors Mohammad Anwar Sadat Sarker, Rejaul Kariem Renju, M.G.R. Nasir Majumder, Syed Moazzem Hossain, Mohammed Bazlur Rahman, Tabarakul Tosaddek Hossain Khan Tito, Abu Motaleb, Amzad Hussain, Akkash Mahmood were present, among others, at the meeting.

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